First Quantum Minerals Ltd. (“First Quantum” or the “Company”, TSX Symbol “FM”) today reported that the Cobre Panama project is currently experiencing industrial action which has reduced the level of work being performed on the project.
This action was started by a small number of personnel and their outside union leadership on March 9, 2018. The dominant union, which represents the majority of workers, is not involved in the action. Currently, development activity is continuing in two of the four main construction areas.
The project’s security team is working with the authorities to ensure the safety of its employees and assets.
Cobre Panama has received significant support from the government including visits from senior Ministers to assist in reaching a resolution. These efforts are continuing.
Further updates will be provided as warranted.
On Behalf of the Board of Directors of First Quantum Minerals Ltd.
G. Clive Newall